Getting money back

Most people expecting a return are eager to file early. In fact, you may have already received your refund, which can take as little as a couple of weeks if you file early and have the funds electronically deposited directly into a checking or savings account. If you don't file for whatever reason, the Internal Revenue Service allows taxpayers to file returns from prior tax years up to three years late and still receive a refund. There could be a penalty for failure to file a return on time, but you're looking at no other penalty other than the delay in receiving your money.

What if you owe taxes?

If you owe the IRS, deadlines are much more important. If you do not have everything together in time to file by the Tuesday deadline and expect you'll have to pay, the IRS says you can ask for a six-month filing extension. It will probably be granted automatically through Form 4868. That doesn't mean you don't still have to pay the estimated amount you'll owe by April 17, however. If not, interest will accrue on the unpaid balance. If you don't file a return without seeking a filing extension, you'll also have to pay the penalty for failure to file.

Why is the filing deadline April 17?

The federal tax-filing deadline is normally April 15. This year, however, taxpayers get a little more time for a couple of reasons. First, there's the weekend factor. April 15 this year fell on a Sunday, which allowed an extra day. On top of that, Emancipation Day is an official holiday in Washington on Monday, according to the National Constitution Center, bumping the filing deadline back an additional day.

History of national income tax

There hasn't always been one. Congress didn't pass a nationwide income tax until 1894 — again, according to the National Constitution Center — and it was declared unconstitutional by the U.S. Supreme Court. However, enough states backed the idea of a federal tax to force the 16th Amendment to the Constitution, ratified in 1913, authorizing an income tax.

More information on Tax Day 2018

The internet is teeming with sites offering tax information and tips, some more reliable than others. But to find the most reliable information in one place, go to the source. The IRS offers all the information needed for filing an individual return at irs.gov.